Childhood pal helped Balwa, Goenka fund Kalaignar TV

Director of Cineyug Films Pvt Ltd and a co-accused in the 2G spectrum scam, Karim Morani was a party in making illegal gratification to Kalaignar TV, a witness in the case has told the CBI. Morani joined hands with childhood friends Shahid Balwa and Vinod Goenka to help the channel despite having a total paid up capital of Rs 25.25 crore only.

Director of Cineyug Films Pvt Ltd and a co-accused in the 2G spectrum scam, Karim Morani was a party in making illegal gratification to Kalaignar TV, a witness in the case has told the CBI. Morani joined hands with childhood friends Shahid Balwa and Vinod Goenka to help the channel despite having a total paid up capital of Rs 25.25 crore only.

The agency has recorded the statement of Mohamed Gulamali Morani, also a director of Cineyug Films and one of the witnesses in the case, to establish the role of Karim Morani in the scam.

The CBI in its second chargesheet has alleged that Swan Telecom and Dynamix Realty Promoters respectively of of Shahid Balwa and Vinod Goenka, channelled Rs 200 crore to DMK family run Kalaignar TV, through Kusegaon Fruits and Vegetables Pvt Ltd and Cineyug Films Pvt Ltd.

Karim’s younger brother Gulamali Morani in his statement told the CBI that Cineyug Film Pvt Ltd’s total paid up capital (i.e. total amount of shareholder capital) was Rs 25 lakh in 1997 and was increased to R25.25 crore in 2008.

“Karim Morani had told me that he, on behalf of Cineyug Films Pvt Ltd, wishes to invest a sum of R200 crore in Kalaignar TV Pvt Ltd. He also informed me that he is mobilising the said amount through his childhood friend namely Vinod Goenka and Shahid Balwa,” Gulamali Morani told the CBI.

Karim, who has been issued a chargesheet in the 2G scam by the CBI, had negotiated the entire proposal with the parties concerned, he told the agency.

“Shares subscription and shareholders agreement was executed on December 19, 2008, between Cineyug Films and Kalaignar TV and its three promoters namely M K Dalayu, Kanimozhi Karunanidhi and Sharad Kumar”, Morani said in his statement.